Project Flying Elephant - Berlin´s Deep Tech Incubator

[WestTech Ventures GmbH - 01.04.2014] Berlin, 31st of March 2014 - WestTech Ventures launches its deep tech incubator, Project Flying Elephant (www.ProjectFlyingElephant.com), in Berlin. The incubator targets young IT and software-focused startups and teams that will develop their own products and approaches for new IT/software infrastructure and solutions the investments and support of Project Flying Elephant.

WestTech Ventures is a seed venture capital investor that has made over 20 investments in internet companies and typically invests up to 250,000 EUR in young startups. With the launch of Project Flying Elephant the seed investor is broadening its existing investment focus and now also invests in the very early development phases of startups, during the so-called angel or pre-seed phase.

Techies in the spotlight - The founding team should consist of a majority of developers and tackle projects in deep tech areas with their businesses. These areas incluce infrastructure software, software frameworks, IT solutions directly built on top of OSs, as-a-service and B2B-software solutions. Investments will be made in a maximum of 5-8 teams per year.

European Vision - Future Flying Elephant projects are based on the principles of "Productivity by design", "Safety by design" and "Security by design". The software solutions should have a European vision. This includes the addressing of European privacy standards with the long-term goal of building and developing a European software hub.

Not only will startups in Project Flying Elephant receive between 25,000 EUR and 50,000 EUR as a first investment, but they will also receive access to an extensive network of experts from all areas, from marketing and human resources to strategy building and, of course, technology and IT expertise.

Masoud Kamali, founder of WestTech Ventures and initiator of Project Flying Elephant says: "There are, especially in Berlin, already company builders, incubators and accelerators for various subjects. This is very interesting to me due to the fact that the area of Deep Tech is almost vacant. With Project Flying Elephant we want to offer software developers an environment that allows them to fully concentrate on their product and building their own companies.”

Applications can be submitted from now on directly to the incubator through the website www.ProjectFlyingElephant.com.

If you have any questions, please contact:

WestTech Ventures GmbH
Project Flying Elephant
Henriette Freese
Saarbrücker Str. 36
10405 Berlin Germany
info@westtechventures.com
Tel.: +49 (0)30 2 14 80 66 12